Quant (CRYPTO: QNT) emerged as the most profitable cryptocurrency over the past week, even as the large-cap names struggled.
QNT Jumps 3X
QNT exploded 227% in a week, climbing from a low of $66 to a high of $358. The spike has pushed the token to levels last seen more than five years ago. Its market capitalization has surged to $3.56 billion, up from $975 million just a week ago.
QNT powers the Quant Network, an interoperable operating system connecting different blockchains with traditional banking networks.
Last week, the banking association and payments company, Clearing House, selected Quant to settle its new tokenized-deposit transactions, providing a major impetus to the underlying token.
On-chain analytics firm Santiment reported a sharp jump in on-chain activity, with QNT’s new addresses spiking to 7,516 on Sep. 27 and active addresses hitting 14,458.
QNT Bucks Broader Crypto Decline
Big-ticket names, meanwhile, struggled. Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) recorded significant declines in the last seven days as Treasury yields hit multi-year highs.
| Cryptocurrency | 7-Day Gains +/- | Price (Recorded at 12:30 a.m. EDT) |
|---|---|---|
| Quant | +227.70% | $219.00 |
| Ethereum | -2.30% | $2,666.53 |
| Bitcoin | -2.70% | $83,142.42 |
| Dogecoin | -9.30% | $0.09305 |
Photo: Sebastian Duda on Shutterstock.com
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